What is the yield on day risk-free securities

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Assume that interest rate parity holds. In both the spot market and the 90-day forward market, 1 Japanese yen = 0.013 dollar. And 90-day risk-free securities yield 2.4% in Japan. What is the yield on 90-day risk-free securities in the United States? Round your answer to two decimal places.

Reference no: EM131084318

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